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states. nhk has learned that softbank is acquiring the third largest mobile phone carrier, sprint nextel. the purchase would spawn a global telecom giant. the negotiations are going on as the use of smartphones and other mobile devices is growing worldwide. sprint nextel has more than 56 million subscribers. nhk sources say softbank executives are in negotiations to acquire two-thirds of the total shares. softbank's total investment is expected to reach about $12.8 billion. both firms are providers for apple's iphones and both use a high-speed wireless communications protocol called lte or long-term evolution. the stronger yen is believed to be a factor in softbank's consideration in aspiring to buy sprint nextel. softbank executive are amay or may notally hoping to vastly expand their network in the u.s. where the market is showing considerable growth. if successful, the deal would lead to the creation of a telecommunications company with more than 90 million subscribers. >>> europe's financial leaders keep hearing others talk act their problems with debt. they're eager to turn the atte
which softbank would end up with a majority control position of the third largest telecom provider in the country. you can see sprint shares are down this morning. let's start there, shall we? at this point, the best we can come up with in terms of my reporting, at least, and the structure of this, and others have been reporting same. yesterday, remember, we told you, they would end up with something around a 70, 7 5% position in the overall company. question is how they get there. at this point it would appear they would be buying primary shares from the company, up to 19.9%. remember, anything above that, you need to have a shareholder vote. according to the rules from the new york stock exchange. so sell 19.9%. sprint is able to raise cash. similar to, you know, a public offering in the sense that new shares then would actually embark on a tender offer to try to take them up. what is the price? well, again, i have to tell you we don't know certainty on price. somewhere around 630, 640, 650 has been the speculation. one question, of course, is will shareholders tender at that level?
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